The last net worth update for 2017 ends with a… whimper.
Down nearly $12K!
A few things happened in December.
Firstly and most damaging to the net worth drop this month was some repair work (more about this to come) that was done to one of my investment properties.
I am covered by insurance but I had to fork out just over $10K to cover it before the insurer could refund me.
This emphasises a point I always tell people who are thinking about investing in property. You need a big buffer when things go wrong. Even with insurance, it can be hard sometimes to cover yourself until the insurer comes to the party. That’s why we have such a big cash buffer. Having 3 properties has the potential to have big expenses.
The other big one for December was a holiday that we booked for August 2018. We paid for everyone flights because it was just easier that way. They are going to pay us back their share so that’s probably another $1.5K-$2K.
Did everyone have a good time over the Christmas break?
Between my own job and Mrs. Firebug’s job, I went to about 5 Christmas break up parties lol.
My job had a social club one, an official one that was on a Thursday (wtf were they thinking) and we had another unofficial one at the pub on the last day).
So between all the parties/birthdays/Christmas and new years eve festivities.
It’s safe to say that the budget was blown out just a little.
It was a relatively quiet Christmas break this year. The best part for me was there was minimal traveling.
Nothing worse than having to spend half of Christmas day driving to and from a destination that’s >1 hour away. We stayed local for Christmas and new years which was awesome. It meant I could ride my electric bike to each location within the town.
One of my favorite things to do when it’s good weather is to ride my E-Bike all over town. Puts me in a great mood and makes traveling fun.
We started 2017 with a net worth of $258,857 and ended it at $400,877 meaning we added $142,020 bucks! 😱🤑👊
Bring on 2018!
Net Worth Update
Super had a very good month over December. We added around $4K for both our accounts combined. I’m not sure if this is because of the markets doing well, a dividend payout maybe, or our employers adding in an extra Super pay (we had three paydays at the end of November instead of the normal two).
Our cash savings took the biggest hit due to a repair bill and holiday that was booked and ETFs didn’t really do much for December, only moving up about $350 bucks.
No changes in the properties this month.
Various data sources (RP data, Domain.com etc.) are used in combination of what similar surrounding properties were sold for to calculate an estimate. This is an official Commonwealth bank estimate and one which they use to approve loans.
Not much happening here. VAS was the only ETF that went up during December with the other two (VTS and VEU) going down. About $350 all up for the month